Now comes an adjustment from the Bureau of Economic Analysis that revised the fourth-quarter GDP growth rate downward 25% – from 3.2% down to the stagnation level of 2.4%.

That further means that the GDP growth for all of 2013 was a mere 1.9%, which was lower than 2012′s 2.8%.

Consumer activity didn’t rebound as the U.S. Department of Commerce first estimated. Real gross domestic purchases climbed just 1.8% in the fourth quarter, and the growth outside of inventory expansion – that is, actual sales – rose just 2.3%, down from the initial 2.8%.

Offsetting this was an increase in the fixed investment estimate from 0.14% to 0.58%.

The increase in real GDP in the fourth quarter primarily reflected positive contributions from PCE, exports, nonresidential fixed investment, and private inventory investment that were partly offset by negative contributions from federal government spending, residential fixed investment, and state and local government spending.

By components, downward revisions were seen in personal component expenditures, inventory investment, net exports, and government purchases. Nonresidential fixed investment was revised up.

Trey Garrison is the Senior Financial Reporter for HousingWire.com. Trey has served as real estate editor for the Dallas Business Journal, and was one of the founding editors of D CEO Magazine. He has been an editor for D Magazine — considered among the best city magazines in the United States — and a contributor for Reason magazine.

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